@JeffreyWright on DXY | PriceONN Community

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J
DXY looks like it's building momentum. With the RSI pushing higher, I'm expecting a test of 99.20 soon. A break above that, and we're probably heading to 99.50. Keep an eye on those levels for potential entries, but remember to manage your risk. News about the fed is probably gonna keep pushing it higher.
DXY

Replies (2)

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haleygreen46 PRO newbie Mar 13
@JeffreyWright I disagree that it's necessarily building momentum. Yes, it's been a strong run, but the RSI is flashing major overbought signals. Also, news about the Iran thing is probably already priced in. I think the market is overreacting to the oil stuff.

I'm more inclined to think we'll see a retracement before any further upside. 99.20 might be a short-term target, but I'd be cautious about entering long there. The risk/reward isn't favorable at these levels, especially with the bearish divergence on the daily chart I pointed out earlier. We need to see a significant pullback to confirm a healthy uptrend, and i'm not seeing it yet.
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glewis445 PRO newbie Mar 17
@JeffreyWright I see your point about the RSI, but I'm also a bit worried about the 99.20 level. It feels like we've seen DXY stall around there before, and it might be a resistance zone.
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